Block66 is an innovative blockchain mortgage platform that streamlines and organizes the facilitation of residential and commercial financing. Institutional and private lenders can use the service to offer loans to a wide range of borrowers, introduced by Block66 broker partners. The primary goal of the platform is to reduce the amount of time, persons involved and money that it takes to complete a full mortgage cycle. Previously, real estate transactions on the blockchain required 100% funding upfront, which is no more with block66.

wdt_ID

Project Purposes

1

Block66 is building a new blockchain-enabled marketplace for mortgages. Institutional and private lenders can use the service to offer loans to a wide range of borrowers, introduced by Block66 broker partners. Through the practical use of smart contracts, loans can be taken from origination to facilitation, quickly and efficiently.

2

All loans are also represented as tradable tokenized securities, providing a liquidity mechanism as standard. The ability to trade fractions of loans and reduced order and issuing fees makes investing more inclusive, providing an attractive investment vehicle for all manner of investors.

3

By the use of cryptocurrency, Block66 eliminates the need for a bank account, overcomes geographical lending restrictions and reduces counterparty risk to mere minutes.

4

For borrowers, the transparent and competitive nature of the marketplace will benefit the consumer and give them confidence that they’re getting near enough the best offer achievable.

5

In short, Block66 streamlines the entire mortgage software and operations stack. For brokers, a one-stop-shop, including credit scoring, property appraisals, and lender matching. For lenders of all sizes, a sustainable loan pipeline, auditing tool, and mortgage securitization platform. For borrowers, a quick, hassle-free way to access the best credit opportunities.

wdt_ID

The purpose of the project with examples

1

Block66 introduces the first platform where lenders can access a marketplace of vetted borrowers looking for mortgage finance. This marketplace is public, transparent, and highly automated, so lending is streamlined, with lower costs, and lower risks.

2

Block66's blockchain and smart-contract technology make it possible for lending contracts to be tokenized, and the flexibility and liquidity provided by Block66's asset-backed tokens will open the mortgage market to a more diverse pool of investors.

3

A digital trust fund (DTF) ensures the safety of the underlying loan agreement, represented digitally as PoL tokens, by acting as custodian for the loan and collecting repayments - including accrued interest.

4

Block66 infrastructure will be implemented as a decentralized application (dApp), and run on the Ethereum network. Brokers will be able to list clients as lending opportunities on the platform, after being thoroughly vetted by Block66 through proof of residence, credit reports, license verification, and criminal record checks.

5

Block66 software and API integrations will automatically verify the majority of files, limiting the need for an underwriter. These same checks will go a long way toward reducing incidences of mortgage fraud by flagging contentious applications.

wdt_ID

The Platform

1

The decentralized Block66 platform leverages blockchain technology. The platform matches borrowers looking for a mortgage with lenders, helps reduce mortgage fraud and allows for mortgages to be issued on the blockchain helping to cross borders and support blockchain only property purchases.

wdt_ID

Token Informations

Investment Informations

1

Token: B66

Accepting: ETH, BTC, BCH

2

Platform: Ethereum

Distributed in ICO: 45%

3

Type: ERC20

Soft Cap: 3,000,000 USD

4

Total Supply: 300,000,000 B66

Hard Cap: 12,285,000 USD

5

Tokens for Sale: 135,000,000 B66

Minimum Investment: 100 USD

6

Price in Pre-Sale: 1 B66 = 0.07 USD

Bonus on Pre-Sale: 33%

7

Price in ICO: 1 B66 = 0.10 USD

Restricted Areas: USA, Iran, North Korea

8

Know Your Customer (KYC): YES

Whitelist: YES

wdt_ID

Token Distribution

1

Reserve: 40%

2

Main Sale: 34.4%

3

Pre-Sale: 16.6%

4

Advisers & Bug Bounty: 9%

wdt_ID

Funds Allocation

1

Engineering: 40%

2

Business Development: 30%

3

Operations: 15%

4

Marketing: 15%

wdt_ID

Milestones

1

Q1 2017: Block66 is conceived. Work begins on drafting the whitepaper and contact is made with some early advisors and team members.

2

Q4 2017: Planning work begins on the Block66 platform. User journeys and operating flows are designed for the matching engine.

This is an independent report generated by a Coinschedule partner company. Coinschedule has no influence over its content and the views expressed may not reflect the views of Coinschedule. This is not investment advice, you are encouraged to do your own research and reach your own independent conclusions.

Tools

Media

Legal

About Coinschedule

Based in Oxford, UK, Coinschedule is one of the first and most established ICO listing and cryptocurrency portals in the world. Launched in 2016, our mission is to make it easy and safe for people around the world to join ICOs.

Our unique Trust Score system, utilises Artificial Intelligence and allows ICOs to show how trustworthy they are to potential investors. It encourages ICO projects to provide transparent information about their team, their project and legal structure.